Business Concerns mount as banks face liquidity challenges- Business News

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LequteMan

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More banks have continued to look for alternative sources of earning following the directive by the Central Bank of Nigeria that increased Cash Reserve Ratio to 50 per cent.

The CBN, in July, raised the CRR for public sector deposit from 12 per cent to 50 per cent in a bid to reduce the amount banks have for lending.

It was learnt that the hike in the monetary policy instrument is already putting pressure on bank earnings and liquidity in the banking system.

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